Ongoing decline · week 5 · US stocks
Goldman Sachs drops 3.5% and loses its 50-week average two weeks before earnings
Our view last week
After last week's 8.5% slide, Goldman Sachs stock is catching its breath: the week closed down 0.7% and price action warning flags fell from 5 to 2. The decline is still drawn on the daily chart, with 3 lower highs between Sep 8 and Sep 22, from the 1040 area to the 968 area. Our technical analysis sees a sell signal losing push, with the short 9.9% in profit since opening: one of the bank stocks to watch.
This week's summary
Goldman Sachs stock is sliding again after last week's pause: the week closed down 3.5%, price lost its 50-week average, in the 925 area, and set a new 90-day low in the 881 area. On the daily chart the lower highs are now 4, from the 1040 area to the 936 area. Our technical analysis reads a sell signal back in motion, with the short 13.1% in profit since opening and earnings due on October 13: one of the bank stocks to watch among US stocks.
IQS Phase
70
in tension
Signal Strength
33
decline starting to make lower lows
Sizing
REDUCED
Ranking
#79 / 175
US stocks
Trade P&L %
+13.10%
from signal to date, no stop loss
Goldman Sachs (GS) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 79th among the 175 sell signals for US stocks in our ranking, with a signal strength of 33 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimeweak phase
Performanceweekly -2.46% · monthly -7.23%
GS belongs to the financials sector (reference ETF XLF). The sector is classified weak phase according to our weekly reading.
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